Shareholders in Paddy Power Betfair have overwhelmingly voted to back plans to rebrand the gambling operator as Flutter Entertainment. Votes were cast at the group’s AGM, with 99.76% of shareholders supporting the proposal.
Codere has again cited the devaluation of the Argentine Peso as the main reason behind a year-on-year decline in revenue during the first quarter, despite seeing growth across its Mexican, Italian, Spanish and online operations.
Genius Sports Group has finalised a major betting data partnership with Football DataCo, giving the supplier exclusive rights to collect, license and distribute live data from the UK’s leading football competitions, including the Premier League.
Andy Hornby is to step down from his role as co-chief operating officer of GVC Holdings to become chief executive of The Restaurant Group. Hornby will have an annual base wage of £630,000 at the group.
Paddy Power Betfair has reported a 17% year-on-year increase in revenue for the first quarter of 2019, with strong growth in its US and Australian operations offsetting a decline in online sports betting revenue.
A sports betting bill introduced earlier in April has been voted through the Colorado’s House of Representatives and transferred to the Senate, but only has until May 3 to progress through the state legislature. The bill has already been passed by the Finance and Appropriations Committees in the upper chamber.
Italy’s advertising and communications regulator Autorità per le Garanzie nelle Comunicazioni (AGCOM) has finally set out exactly how it plans to enforce the country’s ban on gambling advertising. The watchdog will permit information about odds or jackpots to be reported by Italian media, while land-based operators will be allowed to display branding in shop windows.
Spain’s leading gaming trade association the Consejo Empresarial del Juego (CEJUEGO) has been incorporated into the country’s umbrella body for industry groups, the Confederación Española de Organizaciones Empresariales (CEOE). The country's gambling industry is likely to face higher taxes and new advertising restrictions following the victory of the Socialist Workers' Party in the country's third general election in less than four years.
The Jockey Club, the UK’s largest commercial horse racing organisation, has reported a 6.7% year-on-year increase in revenue to £214.6m (€248.6m/$277.0m) for 2018, but warned betting shop closures are likely to impact industry growth in 2019.
The Gambling Commission of England, Scotland and Wales aims to make faster progress on reducing gambling related harms through its new National Strategy to Reduce Gambling Harms, with a focus on improving prevention and education efforts and enhancing treatment and support.
Swedish gaming operator Svenska Spel has reported a 5.9% decline in net gaming revenue for the first quarter of 2019, with growth in the new Sport & Casino igaming division offset by struggles in its lottery and land-based gaming units.
Mississippi’s regulated sports betting market has seen revenue grow strongly in March, as a result of punters betting heavily on basketball over the month. Handle climbed to $32.4m, with a market hold of 15.11% resulting in $4.9m of taxable revenue.